Am I the only one that thinks that the budget is good?!

[isitactuallybadthough]

NC’d for obvious reasons.

I mean it seems that they’re trying to help the working class?

I am not on benefits. I’m also not lucky enough to live in a property worth over £2,000,000. But surely the worst off in society will be better off under this? With the energy bill cut and two child benefit scrap? Also books for libraries, national wage increases. I do understand people feeling frustrated at the pension/ISA parts, that will probably affect DH and I but overall I’m pleased as the worst off will be slightly less worse off?

Me and DP have a joint income of about £95k (usually..DP got made redundant last week so right now its my £70k)

Own home horrible mortgage rate, horrible childcare bill. I guess we come under middle earners. Not much left at the end of the month and not much in savings

The forgotten as I like to say. Not poor enough for help not rich enough to not have to worry.

It could have been worse for us. Tbh we don't win or lose this time.

The benefit cap annoyed me as we have longed for another child but had to put it off for now due to cost and no help.

As "in the middles" I guess we have just come to accept we are already shafted enough and not being shafted anymore is a bonus so overall we sighed relief.

Also, why the name change? You clearly can’t truly think the budget is that great if you don’t want your opinion to be linked with previous posts 🙄

If you are earning enough to be in a position to add thousands in a pension just to avoid tax, you're already self sufficient. It's pure greed and completely tone deaf to the problems in society.

I'm sure lots of people claiming UC now are good at budgeting as well. 59% of parents claiming UC are actually in work as well.

I'm glad that you utilised the benefits system when you needed it and now have such negative opinions about people who use it.

Also my point was that if you're still in your twenties there is lots of time for you to need the benefits system again. Anything can happen.

Yes it will. There has been a huge amount of research done on this (and it’s the child element of universal credit not child benefit) and it’s estimated that a further 109 children every day cross the poverty line whilst the cap was in place. This has the potential to make a huge difference to thousands of struggling families.

Yes, anyone who thinks we are taxing our way to better services is going to be sorely disappointed.

Putting money in my pension is pure greed?????
Seriously?????

I agree with the ending of voluntary class 2 NI contributions for those living abroad, essentially making it harder to qualify for a UK state pension if you are not working or paying tax in the UK.

Yes you are

Hand it over @SuffolkBargeWoman;

Can we not give parents supermarket vouchers instead of child benefit? Excluding booze and cigarettes?

Why does it need to be cash? If its to get kids out of poverty, which i am FULLY on board to help, why do we need to give it in cash?

I work in this field. There is no misunderstanding!

I'm single, low income, desperately saving for my first property. Am gutted about the ISA news but apart from that I'll be less than £9 worse off a year - which comes from petrol taxation.

Since I've said I'd be happy to pay more tax to bolster our public services, then I can't grumble

Another rude netter!!! Just because you disagree you don't have to be an arsehole!

Me too!

If you think it's good then you understand fuck all about economics (like Rachel Reeves apparently 🙄)

As mentioned upthread there is absolutely nothing in this budget that will bring about growth and we will simply run out of money to pay for anything.

You're not the only one, OP. But unfortunately a lot of MNers don't care about those who are worse off than them, to go by some of the bile that's been posted recently.

You've deliberately missed the 'to avoid tax' bit.

Lots of people are taxpayers...including parents in minimum wage jobs topped up by UC who dare to have more than 2 children

Oh because of course they need to have free will to spend it how they like, no strings attached.

The financial markets are looking pretty OK this evening tbh
They stabilised within hours, traders relieved etc

It is not too bad a budget from a fiscal viewpoint - although it is stalling problems for the future and hugely dependent on growth picking up... if not, Labour will find themselves having to come back for more at a time closer to the general election.

The budget is middling on redistribution and I say that as a high-rate tax payer that was expecting (and accepting) to pay more.

Where it massively fails is on the incentives (and hence growth) front. The elimination of the 2-child cap is a case in point (given that it is a delayed implementation) it will be interesting to see if there is an up-trend in births in certain groups). I would include there the stagnation of income tax bands, higher taxes on savings income, etc. Not to mention nothing to address the inflated welfare system or waste in the public sector (or even a signal of wanting to do in the future)

What makes a government budget different is that it is not only about moving money around / redistributing the pie but, crucially, about growing the size of the pie through (the right) incentives and signals to markets and investors. And, on that front, it performs badly.

For the umpteenth time, it is not child benefit we are talking about. It is universal credit child element.

The only impact on me is the salary sacrifice into pensions and the reduced ISA contributions. Stings a bit that it took me to my 60s to be in the position where I could finally use both of these to save a bit,and now they are reduced but such is life.

Do you work in finance yourself? Genuine question.